Promoters of MAN Industries (India) Limited, one of India’s top manufacturers of large pipes, have increased their stake in the company by about 2.1 percentage points, the company said. The promoters purchased 12 lakh shares in a bulk deal from the market, it said. The transaction is likely to have cost around Rs 6.25 cr, […]
Diversified group Piramal Enterprises Ltd said it has sold its entire direct stake of 9.96% in Shriram Transport Finance Co Ltd via the stock exchanges. The move comes at a time when non-banking finance companies find the going tough due to a slow down in credit flow to the industry. The company did not reveal […]
India’s largest instrumentation cable maker Cords Cable Industries Ltd said it has won an approval that will qualify it to supply cables to Indian Railways and other railway projects such as metro rail and dedicated freight corridors. The company said it received an approval as a vendor for various projects for the Indian Railways from […]
JSW Steel Limited, the flagship company of the Mumbai-based JSW Group, reported a 4% increase in production of crude steel in May 2019. JSW produced 14.53 lakh tonnes of crude steel during the period, compared to the 13.99 lakh tonnes produced a year ago. Besides crude steel, the company also produces long rolled products as […]
YES Bank, India’s fourth largest private sector bank, said it has acquired 12.79% stakes in Electrical Engineering firm CG Power and Industrial Solutions as part of the invocation of a pledge. It acquired over 8 crore of equity shares of CG Power submitted as collateral for a loan. The shares are valued at Rs 288 […]
Two-wheeler manufacturer Hero MotoCorp Ltd said it will launch its Maestro Edge 125 model and XPulse models by this month. The company produces scooter models such as Destini 125, Duet, Maestro Edge and Pleasure. Close to 10% of its total sales are from scooters. The Hero Maestro will now join the Destini 125 in the […]
Tata Global Beverages Ltd, a subsidiary of the multinational conglomerate Tata Group, said it entered into a non-binding agreement to acquire the branded tea business of the Kolkata-based Dhunseri Tea and Industries Ltd for Rs 101 crore. A non binding contract is an agreement in which the parties are not legally obligated to carry out […]
Steel and Energy Company Jindal Steel and Power Ltd (JSPL) said it completed the delivery of its first ever rail order for the supply of rails to the Indian Railways four months ahead of schedule. On July 28, 2018, JSPL had bagged 20% of the Rs 2,500 crore global tender by the Indian Railways to […]
Subros Ltd, a leading manufacturer of thermal products for automotive applications in India, said it has executed a ‘definitive agreement’ worth Rs 11.15 cr for the purchase of certain assets of air conditioner maker Zamil Air Conditioners Private Ltd. Established in 1985 as a joint venture with Suri family of India, Denso Corporation & Suzuki […]
Electronics manufacturer Dixon Technologies said that it has acquired 50% shares in its joint venture company, Padget Electronics Private Ltd. Dixon had previously held a 50% stake in Padget. With this, Padget Electronics has now become a wholly-owned subsidiary of Dixon Technologies, the OEM said. Padget had a turnover of Rs 1,351 crores in the […]
Pune-headquartered multinational company Bharat Forge said it acquired a 51% stake in Kolhapur-based metallic products manufacturing company Eternus Performance Materials for Rs 37.45 lakhs. Eternus had a turnover of Rs 1.16 crore for the financial year 2017-18. Eternus is in the business of high-end research and development oriented manufacturing of advanced composite products and precision […]
JSW Steel Limited, the flagship company of the Mumbai-based JSW Group, reported a 3% decline in production of crude steel in the fourth quarter of Financial Year 2019. JSW produced 4.17 million tonnes of crude steel during this period, compared to the 4.31 million tonnes produced a year ago. Besides crude steel, the company also […]
Tata Power Strategic Engineering Division reported that it has delivered the Combat Management System for the Indigenous Aircraft Carrier being built for the Indian Navy . It was developed by Tata Power SED in collaboration with Indian Ministry of Defence’s Weapon and Electronics System Engineering Establishment and Russia’s NPO MARS. Typical functions of the CMS […]
Tata Power Strategic Engineering Division said it has received a contract worth Rs 1,200 cr to supply 23 ship-borne 3D air surveillance radars to the Indian Navy over the next ten years. The equipment will be produced under a transfer of technology arrangement with Spain’s Indra Sistemas, one of the world’s biggest suppliers of air […]
Kaveri Seeds, one of India’s largest seed firms, has set up a new corn cob drying facility, touted to be Asia’s largest, at Molangur village in Karimnagar district of Telangana. The new facility has a capacity of 1,456 tonnes per cycle and can process around 400 tonnes of fresh corn cobs per day to transform […]
GHCL, one of India’s leading manufacturers of home textiles launched a traceable Egyptian cotton bedding brand called Nile Harvest. The products will be sold mainly in the US and UK markets. The company has partnered with Tailorlux GmBH of Germany to use its IntegriTex technology for the marking and traceability of Egyptian cotton. The firm […]
Voltas, India’s largest air-conditioner maker launched a new range of adjustable inverter ACs, which it claimed were the first of their kind in the AC industry. The new models come with a wide range of features, including ‘flexible air conditioning’, that allows the user to switch from 1.5 ton usage to 1 ton usage and […]
Jewellery manufacturer Rajesh Exports said it has won an order worth Rs 1079 crore from a “leading wholesaler and stockist” from the Middle East. The order has to be fulfilled by June. The company had recently introduced new designs in the international markets which constitute a new range of jewellery. The company said it has […]
Skills and talent development company NIIT said it will provide sourcing and vendor management services to Netherlands-based lighting company Signify. Signify, formerly known as Philips Lightning, is one of the leading manufacturer of various lightning products. The company employs 32,000 people in 70 countries and sells its products and services in more than 180 countries. […]
JSW Steel Limited, the flagship company of the Mumbai-based JSW Group, has reported a 6% dip in production of crude steel in February. While the company produced 13.33 lakh tonnes of crude steel in February last year, output fell to 12.57 lakh tonnes this year. This is also a slip from the crude steel output […]
